Sources familiar with the deal say that Google paid advances of more than $100 million to get this content. The artists will be able to earn it back through ad monetization over time. The model is similar to how record labels pay advances to artists, but in this case Google will be exercising no control over the creation or production of the content. It's simply seeding the market.

Earlier today, Google launched the next version of Google TV, which includes a new YouTube app. The company talked about accessing YouTube content as "channels" -- now it's got some commitments for new content to go on those channels.